Announcing our newest investment in Awe.sm.
Here at kbs+ Ventures, we’re excited to announce our latest investment in Awe.sm, the leading platform for developers to harness the social data created by their applications. Awe.sm is announcing a $4 MM financing round led by Foundry Group and GRP Partners with participation from existing investors Neu Venture Capital and new investors kbs p Ventures, the investing arm of advertising agency Kirshenbaum Bond Senecal Partners.
What do they do? Awe.sm explains:
awe.sm allows software developers to add social-media performance tracking to their websites and online applications with a level of granularity that doesn’t exist with any other cloud-based platform. It’s why their customer list includes Groupon, Playdom, LocalResponse, and hundreds more companies that track how social media drives their business goals.
As Techcrunch explains further,
The service is primarily targeted towards developers who are using social sharing as part of their product, who have specific goals they’re looking to accomplish, as cofounder Jonathan Strauss tells me. Anything from figuring out the right types of content to share, to when to share it, who to aim it at, how many clicks it results in, which types of sharing buttons generate the desired types of sharing, which shares result in purchases, etc.
Mark Suster notes,
“In a world where companies are mindlessly paying money for ‘Likes’ or ‘Followers’, we welcome the new era in which people will use Awe.sm data to start spending their social media budgets on real metrics like customer conversions,” backer Mark Suster from GRP Partners gushes in a press release. “I believe the end of the hyped phase of social media has begun.”
Awe.sm fits our investment focus on early-stage companies harnessing the massive disruptions created by big data in the advertising and marketing technology landscape. Co-founders Jonathan Strauss and Laurie Voss have invested a significant amount of time in building Awe.sm as the plumbing for social media. Awe.sm isn’t another sharing application: it’s an infrastructural platform for all companies using social media to understand the links between sharing actions and business goals, and to track it at a level of granularity previously unavailable.
Just as you would use Twilio to power voice, or SendGrid for email, or Crowdtwist for loyalty, Awe.sm is the platform for social media analytics. And that’s the kind of big opportunity that gets us excited.